Employee Expense Reimbursement, Expense Reports Fraud

Defending Your Company against Expense Reimbursement Fraud

The last line of defense your company has against expense reimbursement fraud may come from your bookkeeping department. While supervisors and managers often review expense reimbursements, the bookkeeping department can provide a different point of view. By reviewing supporting documentation for sufficiency and reasonableness, a bookkeeping department may also be
Payroll

Calculating and Remitting Employee Deductions in Canada

As an employer, you are responsible for paying your staff properly. Employees should have the correct amount of taxes withheld from their checks. Employers are required to comply with the rules established by the Canada Revenue Agency. If you are a new employer, follow the steps below when setting up
Business, Payroll

Vacation Pay in British Columbia – What You Need To Know…

Employers must comply with the standards under BC’s Employment Standards Act (the “ESA”).   The ESA governs how employers must pay their employees. It also describes the benefits that employees are entitled to, including vacation pay. ANNUAL VACATION Employees become eligible for vacation pay after they have completed five calendar days
Bookkeeping Tips, Business

Top 10 Bookkeeping Tips

Top Ten Bookkeeping Tips Managing your company’s finances can be challenging. Whether you are an entrepreneur just starting out or a seasoned business professional looking for ways to improve your business processes, here are ten bookkeeping tips to help you.   Leave personal expenses out of your business Sometimes owners
Business

NEW 2019 – BC Employer Health Tax (EHT) and Medical Service Plan (MSP) premiums

Employer Health Tax – Overview Effective January 1, 2019, the Employer Health Tax (EHT) became effective. Under the EHT, employers will pay a tax on their total payroll, subject to meeting certain thresholds. On January 1, 2018, the B.C. government reduced the Medical Service Plan (MSP) premiums that individuals were
Accounting, Bookkeeping Tips, Business

Do I Really Need to Reconcile My Bank Account – Every Month?

The short answer – YES! While it may be painful for some, reconciling your bank account each month is an absolute must for every business. These may seem like a tedious task that we’d be more than happy to put off to another time, reconciling your business bank account each
Accounting, Bookkeeping Tips, Business

How to Improve Your Accounts Receivable Collections

Your financial statements look great – they show that you are making a healthy profit. But, you’re scratching your head, wondering why you are struggling to pay the bills. Cash flow is a critical element that every company needs to operate. When cash flow is tight, it can impact your
Accounting, Bookkeeping Tips, Business

New Year’s resolutions for your business success

With the New Year upon us, we are often busy setting resolutions to adopt healthier eating and exercise habits, to get more sleep, and to find ways to have less stress in our lives. But if you are a business owner, what are your resolutions to improve financial health of